Indian equity markets are set to open with mixed signals on Wednesday. At around 7:30 am, GIFT Nifty was trading at 22,835.50, up 5.50 points, or 0.02%.
After the recent run of declines, the domestic equity market may see consolidation. Investors will track shares of companies that have reported major deals, orders, corporate decisions or business updates.
The Indian stock market has gone through a decline for the eighth consecutive week. This is being described as the longest stretch of market declines since 2020.
Avalon Technologies is likely to remain in focus. The company's promoter group, Bhaskar Srinivasan, BBS Family Trust and KBS Family Trust, may plan to sell up to around 6% stake in the company through a block deal. The proposed deal size is around Rs 861.9 crore, with the potential price per share expected to be between Rs 2,150 and Rs 2,302.
Power Mech Projects has received an order worth Rs 549.37 crore from Adani Group for complete operation and maintenance services at the 2x600 MW Moxi Power Generation Tuticorin TPP project.
Ganesh Benzoplast has entered into agreements to sell its liquid storage tank and railway network business to Sisternina Logistics for Rs 1,154 crore. Sisternina Logistics is a platform focused on bulk liquid and gas storage and logistics, in which KKR will hold a significant stake.
KSB has received an export order worth up to Rs 118 crore from Dangote Projects Free Zone Enterprise for the supply of a boiler feed pump package.
Arisunitern RE Solutions, a subsidiary of ArisInfra Solutions, has received an order from Transcon Bellaviu, a special purpose vehicle of Transcon Group. The order relates to DaaS services for the Transcon UNO residential project in Kalina, Mumbai. The project has an estimated gross development value of around Rs 400 crore.
Endurance Overseas SpA, the Italy-based subsidiary of Endurance Technologies, has amended the share purchase agreement relating to the acquisition of the remaining 32% stake in Germany-based Stöferle Automotive GmbH and Stöferle GmbH. The stake will be acquired for around 18 million euros.
NLC India has announced the formation of an equal-stake joint venture with NALCO. The objective is to establish a 1,080 MW thermal captive power plant in phases to meet NALCO's captive power requirements. Options for long-term power purchase agreements will also be considered for renewable energy requirements.
Ramco Cements has completed the debottlenecking process at its Jayantipuram plant in Andhra Pradesh's NTR district. Following the process, the company's clinker capacity has increased from 4.61 MTPA to 5.62 MTPA, while cement grinding capacity has increased from 3.65 MTPA to 4.38 MTPA.
Prestige Estates Projects has completed two residential projects in Hyderabad. The company has handed over a total of 1,047 homes, including 928 homes at Prestige Clairmont and 119 villas at Bellagio.
The board of JSW Cement has approved the scheme for the merger of Shiva Cement with the company. Following the proposed merger, an integrated cement platform will be created, with the objective of achieving potential benefits related to operations, financial management and administration.
Tata Steel has purchased 393.51 crore equity shares in T Steel Holdings. The total transaction value is $340 million, or around Rs 3,260.32 crore. Following the purchase, T Steel Holdings will remain a wholly owned subsidiary of the company.
The board of Britannia Industries has approved the appointment of Whole-Time Director N. Venkataraman as Deputy Managing Director with effect from October 1.
Following the retirement of Inderjeet Ghuliani as CFO of SBI Funds Management, Amol Joshi has been appointed as the new Chief Financial Officer. His appointment will take effect from October 1.
